United Therapeutics CEO sells 9,500 shares

United Therapeutics’ CEO, via family trusts, exercised and sold 9,500 UTHR shares under a pre-arranged Rule 10b5-1 plan while retaining significant direct and indirect holdings.

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised stock options for 9,500 shares of common stock on September 3, 2026, at strike prices of $135.42 and $117.76 per share and sold 9,500 shares in multiple trades at prices ranging from about $478.44 to $491.55. These transactions were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which may continue until the earlier of the exercise of 1,734,410 stock options expiring March 15, 2027, or December 31, 2026. Following these transactions, Rothblatt is reported as holding 40,513 shares directly and 166 shares indirectly through a spouse, with additional holdings and options in family trusts where she and/or her spouse share investment power.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.36M approx. pre-tax spread)

Exercise and Sale 21 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($4.63M)

Approx. gross sale proceeds $4.63M

Approx. exercise cost $1.28M

Approx. pre-tax spread $3.36M

Type	Security	Shares	Price	Value
Exercise	Stock Option F1, F18	8,910	$0.00	$0.00
Exercise	Stock Option F1, F19, F18	590	$0.00	$0.00
Exercise	Common Stock F1, F2	8,910	$135.42	$1.21M
Exercise	Common Stock F1, F2	590	$117.76	$69K
Sale	Common Stock F1, F3, F2	200	$479.066	$96K
Sale	Common Stock F1, F4, F2	440	$480.5257	$211K
Sale	Common Stock F1, F5, F2	600	$481.4726	$289K
Sale	Common Stock F1, F6, F2	400	$482.345	$193K
Sale	Common Stock F1, F7, F2	80	$483.69	$39K
Sale	Common Stock F1, F8, F2	240	$485.1585	$116K
Sale	Common Stock F1, F9, F2	411	$486.724	$200K
Sale	Common Stock F1, F10, F2	1,429	$487.8655	$697K
Sale	Common Stock F1, F11, F2	1,604	$488.6827	$784K
Sale	Common Stock F1, F12, F2	3,114	$489.6169	$1.52M
Sale	Common Stock F1, F13, F2	940	$490.5004	$461K
Sale	Common Stock F1, F14, F2	42	$491.2452	$21K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F15	--	--	--
holding	Common Stock F16	--	--	--
holding	Common Stock F17	--	--	--

Holdings After Transaction: Stock Option — 499,410 contracts (Indirect, by Trust); Common Stock — 628,049 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (19)

1. F1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
2. F10. This transaction was executed in multiple trades at prices ranging from $487.18 to $488.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
3. F11. This transaction was executed in multiple trades at prices ranging from $488.18 to $489.16. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
4. F12. This transaction was executed in multiple trades at prices ranging from $489.18 to $490.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
5. F13. This transaction was executed in multiple trades at prices ranging from $490.18 to $491.02. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
6. F14. This transaction was executed in multiple trades at prices ranging from $491.23 to $491.55. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
7. F15. Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
8. F16. Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
9. F17. Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
10. F18. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
11. F19. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
12. F2. Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
13. F3. This transaction was executed in multiple trades at prices ranging from $478.44 to $479.36. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
14. F4. This transaction was executed in multiple trades at prices ranging from $479.97 to $480.96. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
15. F5. This transaction was executed in multiple trades at prices ranging from $481.05 to $482.02. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
16. F6. This transaction was executed in multiple trades at prices ranging from $482.12 to $482.60. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
17. F7. This transaction was executed in multiple trades at prices ranging from $483.55 to $483.83. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
18. F8. This transaction was executed in multiple trades at prices ranging from $484.92 to $485.85. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
19. F9. This transaction was executed in multiple trades at prices ranging from $486.18 to $487.16. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Key Figures

Stock options exercised: 9,500 shares Exercise prices: $135.42 and $117.76 per share Shares sold: 9,500 shares +5 more

8 metrics

Stock options exercised 9,500 shares Options exercised into common stock on September 3, 2026

Exercise prices $135.42 and $117.76 per share Strike prices on 8,910 and 590 options exercised on September 3, 2026

Shares sold 9,500 shares Common stock sales on September 3, 2026, by family trusts

Sale price range $478.44–$491.55 per share Price ranges from multiple trades reported in footnotes F3–F14

Direct holdings after transaction 40,513 shares Common stock held directly by the CEO as of September 3, 2026

Indirect spouse holdings after transaction 166 shares Common stock held indirectly by spouse as of September 3, 2026

Options subject to 10b5-1 plan cap 1,734,410 stock options Maximum options to be exercised under plan expiring March 15, 2027 or by December 31, 2026

Net shares sold 9,500 shares Net sell direction across reported buy/sell transactions in this Form 4

Key Terms

Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

stock options financial

"exercise of stock options and sale of the resulting shares of common stock"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

weighted average price financial

"The price reported above reflects the weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

family trusts financial

"Shares held in family trusts as to which the Reporting Person's spouse"

investment power financial

"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"

FAQ

What did UTHR’s CEO report in this Form 4 transaction?

The filing reports that the CEO, via family trusts, exercised options for 9,500 shares of United Therapeutics common stock and sold 9,500 shares on September 3, 2026, in multiple trades at prices between approximately $478.44 and $491.55 per share.

At what prices were the UTHR stock options exercised in this Form 4?

The CEO’s family trusts exercised stock options for United Therapeutics at strike prices of $135.42 per share for 8,910 shares and $117.76 per share for 590 shares, each into an equal number of common shares on September 3, 2026.

Were the UTHR insider transactions made under a Rule 10b5-1 trading plan?

Yes. The filing states the option exercises and related sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 options or December 31, 2026.

How many UTHR shares did the CEO sell and at what price range?

The CEO’s family trusts sold a total of 9,500 shares of United Therapeutics common stock in multiple trades at prices ranging from approximately $478.44 to $491.55 per share on September 3, 2026, with several trades reported at weighted average prices in that range.

What are the CEO’s reported UTHR share holdings after these transactions?

After the reported transactions, the CEO is shown as holding 40,513 shares of United Therapeutics common stock directly and 166 shares indirectly through a spouse, in addition to other shares and stock options held in family trusts where she and/or her spouse share investment power.

How many stock options remain covered by the CEO’s UTHR 10b5-1 plan?

The 10b5-1 plan referenced in the filing will continue until the earlier of the exercise of 1,734,410 stock options, all expiring on March 15, 2027, or December 31, 2026, indicating a large remaining pool of options potentially subject to the plan.

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Available on EDGAR 09/04/2026 - 04:32 PM Accepted by SEC EDGAR 09/04/2026 - 04:31 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROTHBLATT MARTINE A

(Last) (First) (Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING MARYLAND 20910

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2026		M(1)		8,910	A	$135.42	333,353	I	by Trust(2)
Common Stock	09/03/2026		M(1)		590	A	$117.76	333,943	I	by Trust(2)
Common Stock	09/03/2026		S(1)		200	D	$479.066(3)	333,743	I	by Trust(2)
Common Stock	09/03/2026		S(1)		440	D	$480.5257(4)	333,303	I	by Trust(2)
Common Stock	09/03/2026		S(1)		600	D	$481.4726(5)	332,703	I	by Trust(2)
Common Stock	09/03/2026		S(1)		400	D	$482.345(6)	332,303	I	by Trust(2)
Common Stock	09/03/2026		S(1)		80	D	$483.69(7)	332,223	I	by Trust(2)
Common Stock	09/03/2026		S(1)		240	D	$485.1585(8)	331,983	I	by Trust(2)
Common Stock	09/03/2026		S(1)		411	D	$486.724(9)	331,572	I	by Trust(2)
Common Stock	09/03/2026		S(1)		1,429	D	$487.8655(10)	330,143	I	by Trust(2)
Common Stock	09/03/2026		S(1)		1,604	D	$488.6827(11)	328,539	I	by Trust(2)
Common Stock	09/03/2026		S(1)		3,114	D	$489.6169(12)	325,425	I	by Trust(2)
Common Stock	09/03/2026		S(1)		940	D	$490.5004(13)	324,485	I	by Trust(2)
Common Stock	09/03/2026		S(1)		42	D	$491.2452(14)	324,443	I	by Trust(2)
Common Stock								40,513	D
Common Stock								166	I	by Spouse
Common Stock								249,108	I	by Trust(15)
Common Stock								45,596	I	by Trust(16)
Common Stock								8,902	I	by Trust(17)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$135.42	09/03/2026		M(1)			8,910	03/15/2023	03/15/2027	Common Stock	8,910	$0.00	0.00	I	by Trust(18)
Stock Option	$117.76	09/03/2026		M(1)			590	(19)	03/15/2027	Common Stock	590	$0.00	499,410	I	by Trust(18)

Explanation of Responses:

1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.

2. Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.

3. This transaction was executed in multiple trades at prices ranging from $478.44 to $479.36. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

4. This transaction was executed in multiple trades at prices ranging from $479.97 to $480.96. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. This transaction was executed in multiple trades at prices ranging from $481.05 to $482.02. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

6. This transaction was executed in multiple trades at prices ranging from $482.12 to $482.60. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

7. This transaction was executed in multiple trades at prices ranging from $483.55 to $483.83. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

8. This transaction was executed in multiple trades at prices ranging from $484.92 to $485.85. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

9. This transaction was executed in multiple trades at prices ranging from $486.18 to $487.16. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

10. This transaction was executed in multiple trades at prices ranging from $487.18 to $488.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

11. This transaction was executed in multiple trades at prices ranging from $488.18 to $489.16. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

12. This transaction was executed in multiple trades at prices ranging from $489.18 to $490.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

13. This transaction was executed in multiple trades at prices ranging from $490.18 to $491.02. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

14. This transaction was executed in multiple trades at prices ranging from $491.23 to $491.55. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

15. Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.

16. Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.

17. Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.

18. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.

19. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	09/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)